What Happened to TekDry After Shark Tank.

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Издатель Jul 4, 2026

What Happened to TekDry After Shark Tank.
Imagine dropping your expensive smartphone in the toilet! Most people try putting it in a bag of rice, but that barely works. In 2014, entrepreneurs Adam Cookson and Craig Beinecke created TekDry, a cool machine that uses a vacuum and gentle heat to rescue wet electronics in just 30 minutes.
In 2016, the duo walked into Shark Tank seeking a $500,000 investment for 5% of their business. While some Sharks worried that future phones would become waterproof, Kevin O'Leary saw an opportunity. He offered a $500,000 loan plus 5% equity, and the founders accepted.
At first, the business boomed! TekDry expanded its machine network to over 600 Staples stores. Customers paid a price of $69.99 for a smartphone repair, but they only had to make a purchase if the machine actually fixed the device. Annual sales eventually reached $1 million.
Unfortunately, this inspiring story faced a major challenge. As phone companies built highly water-resistant devices, the cost of expanding the business became too hard to sustain because fewer people needed the service. TekDry eventually went out of business.
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